Bar & Grill with Covered
For Sale
$899,000
305 W 2ND Street, Rock Falls, IL 61071
Established entertainment venue with a stage, dance floor, upgraded lighting, and included furniture, fixtures, equipment, and inventory.
Property Size4,250 SF
Lot Size0.29 Acres
Price / SF$211.53
Days on Market527
Property Features for 305 W 2ND Street
General Information
Standard status
Active
Size
4,250 SF
Lot size
0.29 Acres
Property subtype
Commercial
Zoning
C
Restaurant
Patio
Yes
Equipment Included
Yes
Additional Details
Furnished
Yes
Business Included
Yes
Taxes and HOA fees
Annual Taxes
$12,136
Amenities
stage
dance floor
upgraded lighting and truss system
Building Details
Building Size
4,250 SF
Year Built
2013
Buildings
1
Listing Agency:
Hawkeye Commercial Real Estate
(563) 344-4295
Listed By:
Max Gellerman · License #S69838000/475199257
(563) 344-4295
Source:
Midwestrealestate
Added: Mar 12, 2025
Changed: Aug 19
Last Checked: Aug 20 at 2:36PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hawkeye Commercial Real Estate
Investment Insights
Based on property information with market context.
Whiskey Barrel is a 4,250-square-foot bar and grill constructed in 2013 on a 0.29-acre site. The venue includes a bar area, large stage, dance floor, upgraded lighting and truss system, plus a 30-by-30-foot covered patio and an additional 1,500 square feet of uncovered patio area. The uncovered patio includes a poured foundation that could be enclosed into the building, subject to applicable approvals.
The property is located at 305 W 2nd Street in downtown Rock Falls, two blocks from the RB&W District Park and Waterfront. The sale includes the furniture, fixtures, equipment, and all inventory, excluding the speaker system. Six on-site gaming slots are also included. Zoning is C.
The property is located at 305 W 2nd Street in downtown Rock Falls, two blocks from the RB&W District Park and Waterfront. The sale includes the furniture, fixtures, equipment, and all inventory, excluding the speaker system. Six on-site gaming slots are also included. Zoning is C.
Key Highlights
- 4,250 SF bar and grill on a 0.29‑acre site
- Built in 2013 and maintained by one owner
- 30‑by‑30 covered patio plus 1,500 SF uncovered patio
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$55,654
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.19%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,113,080
$1.1M
Cap Rate 7%
$795,057
$795.1K
Cap Rate 9%
$618,378
$618.4K
Market Conditions
NOI Build-Up for 4,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$76.5K $18.00/SF
− Vacancy
−$2.3K −$0.54/SF
EGI
$74.2K $17.46/SF
− OpEx
−$18.6K −$4.37/SF
NOI
$55.7K $13.10/SF
Area
Whiteside County, IL
Vacancy
3.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,113,080
Cap Rate 7%
$795,057
Cap Rate 9%
$618,378
Alternative Uses
Best Use
Specialty Retail
$795.1K
$695.7K – $927.6K
NOI $55,654 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
447
Businesses Nearby
37k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 49%
Shops & Services 24%
Groceries 22%
Hotels & Casinos 4%
Save-A-Lot
Groceries
8,013 visits/mo
0.5 miles
Shell
Shops & Services
6,413 visits/mo
0.2 miles
Hardee's
Dining
5,820 visits/mo
0.2 miles
Scooter's Coffee
Dining
4,600 visits/mo
0.2 miles
Pizza Hut
Dining
3,457 visits/mo
0.3 miles
Demographics for 61071, IL
13,389
Population
6,612
Households
2
Avg Household Size
45
Median Age
17%
College-Educated
90%
High-School Grad
72.5 sq mi
ZIP Area
185
Density / Sq Mi
$57,909
Median Household Income
$40,698
Median Earnings
$752
Median Rent
$104,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Cooler — 311 W 2nd St, Rock Falls, IL 61071
- Whiskey Barrel — 305 W 2nd St, Rock Falls, IL 61071
- Rockin Slots Bar — 411 W 1st St, Rock Falls, IL 61071
- Nick's Tap — 1301 Prophetstown Rd, Rock Falls, IL 61071
- Bubba's Hideaway — 611 1st Ave, Rock Falls, IL 61071
Frequently Asked Questions
What type of property is this?
Bar & Pub - Established entertainment venue with a stage, dance floor, upgraded lighting, and included furniture, fixtures, equipment, and inventory.
Where is this bar & pub located?
The property is located at 305 W 2ND Street Rock Falls, IL.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: 4,250 SF bar and grill on a 0.29‑acre site; Built in 2013 and maintained by one owner; 30‑by‑30 covered patio plus 1,500 SF uncovered patio
